double jeopardy q $200 q $400 q $600 q $800 q $1000 q $200 q $400 q $600 q $800 q $1000 taxes...

Double Jeopardy

Q $200

Q $400

Q $600

Q $800

Q $1000

Q $200 Q $200Q $200 Q $200

Q $400 Q $400 Q $400 Q $400

Q $600 Q $600 Q $600 Q $600

Q $800 Q $800 Q $800 Q $800

Q $1000 Q $1000 Q $1000 Q $1000

Taxes Intro to Economics

The Six Pillars

Demand & Supply

Money & Banking

$200 Question from Taxes.

An excise tax can also be called a luxuryor __________ tax.

$200 Answer from Taxes.

Sin/Hidden Tax

$400 Question from Taxes.

Social insurance taxes such as Social Securityand Medicare are taken directly out of paychecks. Because of this they are often called __________ taxes.

$400 Answer from Taxes.

Payroll Taxes

$600 Question from Taxes.

This tax regulates or discourages activitiesthat Congress deems dangerous.

$600 Answer from Taxes.

Nonrevenue Tax

$800 Question from Taxes.

This is laid on the manufacture, sale, orconsumption of a good/or a performanceof a service.

$800 Answer from Taxes.

Excise Tax

$1000 Question from Taxes.

This is also called a “payroll tax” because it is taken directly out of paychecks at a flat rate.

$1000 Answer from Taxes.

Social Insurance Tax

$200 Question from Intro to Economics.

1Want -Sat isf ac t ion Chain

2 3

567

4

$200 Answer from Intro to Economics.

Into Production

$400 Question from Intro to Economics.

1Want -Sat isf ac t ion Chain

2 3

567

4

$400 Answer from Intro to Economics.

Resulting in a Good/Service

$600 Question from Intro to Economics.

1Want -Sat isf ac t ion Chain

2 3

567

4

$600 Answer from Intro to Economics.

Distribution

$800 Question from Intro to Economics.

1Want -Sat isf ac t ion Chain

2 3

567

4

$800 Answer from Intro to Economics.

Factors of Production(Land, Labor, Capital)

$1000 Question from Intro to Economics.

1Want -Sat isf ac t ion Chain

2 3

567

4

$1000 Answer from Intro to Economics.

Goods Made Available for Consumption

$200 Question from The Six Pillars.

This pillar means that a business will compete with others in the market.

$200 Answer from The Six Pillars.

Market Competition.

$400 Question from The Six Pillars.

I am going to college to become a teacher. When I sell my labor my _______________ will be in Social Studies education. (what pillar goes along with this idea)

$400 Answer from The Six Pillars.

Specialization

$600 Question from The Six Pillars.

Arby’s and Wendy’s engage in _______________ ______________ because they both specialize in fast food.

$600 Answer from The Six Pillars.

Market Competition

$800 Question from The Six Pillars.

A business sells cupcakes. They will make a profit selling their treats at $2 but customers are willing to pay $3.50 per cupcake. To determine what price they should sell their product the business must consider this pillar of free enterprise

$800 Answer from The Six Pillars.

The Price System

$1000 Question from The Six Pillars.

A barber shop must buy their scissors/grooming tools from a retailer. They are engaging in _______________ _______________.

$1000 Answer from The Six Pillars.

Voluntary Exchange

$200 Question from Demand & Supply.

Which is a non-elastic supply graph?

A B C D

$200 Answer from Demand & Supply.

C

$400 Question from Demand & Supply.

The _______________ _____ _______________ is an inverse relationship between the quantity demanded and price.

$400 Answer from Demand & Supply.

Law of Demand

$600 Question from Demand & Supply.

The _______________ _____ _______________ is a positive relationship between the quantity supplied and the price of the product.

$600 Answer from Demand & Supply.

Law of Supply

$800 Question from Demand & Supply.

Does this show an increase or decrease in supply?

S1

S2

$800 Answer from Demand & Supply.

Increase

$1000 Question from Demand & Supply.

Does this show an increase or decrease in demand?

D1 D2

$1000 Answer from Demand.

Increase

$200 Question from Money & Banking.

$200 Answer from Money & Banking.

Peak

$400 Question from Money & Banking.

$400 Answer from Money & Banking.

Recovery

$600 Question from Money & Banking.

$600 Answer from Money & Banking.

Recession

$800 Question Money & Banking.

$800 Answer from Money & Banking.

Trough

$1000 Question from Money & Banking.

$1000 Answer from Money & Banking.

Growth Trend